HR news briefing News and analysis what October means for you
HR plans to offer support despite energy cap On 8 September, prime minister Liz Truss announced a cost of living support package which included capping typical annual household energy bills at £2,500 for the next two years.
primarily come through increased pay, additional pay reviews, and one-off bonuses. A minority of employers (15%) also confirmed they would explore non-monetary assistance such as home insulation, financial wellbeing programmes and employee hardship funds.
Truss confirmed that businesses would pay a similar rate for the next six months — adding that any additional sector-specific support would be confirmed within the quarter.
Mike Barrow, financial coach at Claro Wellbeing, said the government’s support shouldn’t
For many employers, news of government intervention will likely be welcomed.
stop the need for employers offering additional assistance in the form of education and flexible working arrangements.
He said: “While we’ve seen some employers offer one-off cash payments they should also be considering long-term support options which go beyond money alone.
“With huge numbers of employees still working from home, it may be that we see people returning to the offi ce to reduce the costs associated with heating and lighting their homes.
Prior to Truss’ announcement, PwC found more than four in five employers were planning to support staff with cost of living increases. The management consultancy’s survey of UK reward specialists found planned support would
“If working in an offi ce isn’t an option, organisations should consider how they can support staff working remotely by helping with bills where possible. Organisations could also help by introducing a financial wellbeing programme.”
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Cost of living crisis pulls younger workers back to office
Young workers may have to go into the office more than they want to as rising energy bills are making working from home more expensive.
Research from Emburse found almost a quarter (23%) of workers under 35 would consider going in to the offi ce more o en due to the rising cost of energy bills. Currently 63% of those surveyed said they spent three or more days working from home.
Many workers would welcome support from their employers to help manage rising costs: 42% of offi ce workers would take utilities support over fully expensed commuting costs, but 69% said their employers weren’t planning to provide any support related to energy costs.
Energy bills for a typical household are expected to rise to £3,459 per year from 1 October.
Kenny Eon, general manager and senior vice president EMEA at Emburse, said that spending more time in the offi ce could be the cheaper option for workers.
He said the financial benefits of doing so, together with the culture and collaboration benefits, offered compelling reasons for employees to return to the offi ce.
hrmagazine.co.uk
September/October 2022 HR 7
